NHPC spurts 1% on MoU for floating solar energy projects in Odisha

The parties also agreed to explore further potential of installing floating solar projects after joint identification in subsequent periods in Odisha, the company added.

Jul 21, 2020 01:07 IST India Infoline News Service

NHPC
Shares of NHPC gained in the afternoon session on the BSE. The company has signed a memorandum of understanding (MOU) with Green Energy Development Corporation of Odisha (GEDCOL), a leading State PSU in the renewable energy sector, for development of 500 megawatts (MW) floating solar projects in Odisha under ultra-mega renewable energy power parks (UMREPP).

Parties may collaborate and cooperate to form a Joint Venture Company (JVC) to plan & develop techno-commercially feasible floating solar power projects of 500 MW in the state of Odisha under UMREPPs Scheme of MNRE, in a phased manner, preferably in packages of 50 MW each, the company said on Monday post market hours.

The parties also agreed to explore further potential of installing floating solar projects after joint identification in subsequent periods in Odisha, it added.

The stock is currently trading at Rs20.25, up by Rs0.15 or 0.75% from its previous closing of Rs20.10 on the BSE.

The scrip opened at Rs20.40 and has touched a high and low of Rs20.55 and Rs20.20 respectively.

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